Rancho Mirage Real Estate Update

Rancho Mirage is continuing to grow rapidly, and home prices are following suit. If you are thinking about purchasing a home, it is a good idea to get a home inspection!

In this real estate update, we’ll be taking a look at all the statistics and information you need to keep up with the latest developments.

Market Forecast & Real Estate Stats

Here are the latest available statistics for the Rancho Mirage real estate market as of December 2019.

  • Median home value increased 2.9% to just over $527,000 over the course of 2019
  • The average time homes spend on the market before being sold is 91 days
  • The median list price per square foot in Rancho Mirage is $245 

Overall, the market forecast in Rancho Mirage is healthy and relatively competitive. The market is currently a seller’s market, meaning that there are plenty of buyers who are looking to buy homes in the area. 

It’s estimated that home values will continue to increase by about 3.4% in the coming year. 

Most & Least Expensive Areas

The most expensive areas in Rancho Mirage include:

  • Edom – Median home value of $731,954
  • Frank Sinatra Dr / Morningside Dr – Median home value of $497,177
  • Rimlon – Median home value of $458,551

The least expensive areas in Rancho Mirage include:

  • City Center – Median home value of $429,378
  • Morningstar Rd / Desert Creek Ln – Median home value of $413,711

Is It Time To Buy Or Sell?

Now is a great time to buy a home in Rancho Mirage! Property values have been rising consistently, and are forecasted to continue to climb in the near future! 

This is a great opportunity to buy a new home and make the most of your investment. 

Thinking About Buying a Home in Rancho Mirage? – Schedule an Inspection Today!

Your home is one of the biggest investments you’ll ever make.

Protect that investment and the future it represents by working with Cal-Spec Inspections.